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UP Government to Sign MoU with SBI for Teachers’ Welfare, Cashless Medical Scheme

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On 8 July, an important Memorandum of Understanding (MoU) will be signed between the Basic Education Department of Uttar Pradesh and the State Bank of India (SBI) in Varanasi. The MoU will be signed during the launch of the Mukhyamantri Shikshak Cashless Chikitsa Yojana.

The main aim of the agreement is to strengthen the social and economic security of permanent and contractual employees of the Basic Education Department.

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According to instructions issued by Director General of School Education and State Project Director Monica Rani, the MoU will be signed in the presence of Chief Minister Yogi Adityanath. The programme will be held at the Hastkala Sankul (Trade Facilitation Centre) in Varanasi. The Mukhyamantri Shikshak Cashless Chikitsa Yojana will also be launched during the same event.

The instructions state that similar programmes will be organised in all districts along with the state-level event. District-level programmes will be held under the chairmanship of the District Magistrate. Programmes at tehsil headquarters will be organised under the chairmanship of the Sub-Divisional Magistrate.

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Under the MoU, SBI will provide various medical and insurance facilities to employees of education department of Uttar Pradesh. It will benefit around 4.5 lakh permanent employees and 5.5 lakh contractual employees.

Under SBI’s salary package, eligible permanent employees will receive a group term life insurance cover of ₹10 lakh, a personal accident insurance cover of ₹1 crore, and a permanent disability insurance cover of ₹1 crore. In addition, they will be entitled to an air accident insurance cover of up to ₹1.6 crore. The package will also include add-on benefits to support the education of employees’ children and the marriage of daughters in the event of an unforeseen tragedy.

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Contractual employees earning a net monthly salary of more than ₹10,000 will be covered by a personal accident insurance policy of up to ₹30 lakh. They will also receive insurance coverage of ₹30 lakh in case of permanent disability and ₹15 lakh for partial disability. An air accident insurance cover of ₹30 lakh will also be available under the scheme.

For contractual staff earning less than ₹10,000 per month, a zero-balance SBI account and RuPay debit card will provide insurance coverage of up to ₹1 lakh. Post the agreement, the employees already maintaining salary accounts with SBI will be migrated to the bank’s special salary package and will automatically become eligible for the associated benefits.

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Pradeep Singh

Pradeep Singh is a banking and finance expert covering financial markets, banking policies, and global economic trends. With a background in financial journalism, he brings in-depth analysis and expert commentary on market movements, government policies, and corporate strategies. His articles provide valuable insights for investors, entrepreneurs, and business professionals.
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